Miagao Mayor Macario N. Napulan (center) and LANDBANK West Visayas Branches Group Head, First Vice President Delma O. Bandiola (4th from left) lead the official inauguration and blessing of the newly-relocated LANDBANK Miagao Branch on March 22, 2021. With them are (from left) University of the Philippines-Visayas (UPV) Chancellor Dr. Clement C. Camposano, Iloilo Science and Technology University (ISAT U) President Dr. Raul F. Muyong, and LANDBANK Miagao Branch Head Rowena H. Areño. MIAGAO, Iloilo – From its former site inside the Fisheries Library Museum Building of the University of the Philippines-Visayas (UPV), the Land Bank of the Philippines (LANDBANK) Miagao Branch recently moved to a new site at Barangay Igtuba beside the Iloilo Science and Technology University (ISAT U) to better service the banking needs of clients. “LANDBANK remains committed to bringing quality products and services closer to our valued clients. The strategic relocation of the Miagao Branch is meant to better service the banking needs of our depositors and loan clients in the area, especially cooperatives, micro, small and medium enterprises, rural banks and LGU partners,” said LANDBANK President and CEO Cecilia C. Borromeo. Miagao Mayor Macario N. Napulan led the inauguration of the new branch on March 22, 2021, together with LANDBANK West Visayas Branches Group Head, First Vice President Delma O. Bandiola. They were joined by UPV Chancellor Dr. Clement C. Camposano, ISAT U President Dr. Raul F. Muyong, and LANDBANK Miagao Branch Head Rowena H. Areño. Mayor Napulan welcomed the move of LANDBANK which signified continued support for the municipality’s economic development. “I am very happy that one of the biggest banks in the country is located here in Miagao,” he said. For more updates, follow the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or join the Viber community (@LANDBANK), and visit the LANDBANK website (www.landbank.com).
READ MOREDASURECO General Manager Ferdinand D. Canastra (center) and LANDBANK Davao del Sur Lending Center Head, Department Manager Arnel M. Caalim (leftmost), lead the P350-million loan signing on March 15, 2021 to enhance electric services in Davao del Sur and Davao Occidental. Joining them are (from left) DASURECO Finance Services Manager Alejandra B. Rosario and LANDBANK Account Officer Christian Harvey N. Wong and Account Assistant Ralph Rhester Encabo. DIGOS, Davao del Sur – Land Bank of the Philippines (LANDBANK) granted the Davao del Sur Electric Cooperative, Inc. (DASURECO) a P350-million credit line to augment its working capital for the continued provision of reliable, affordable, and uninterrupted electric services to consumer-members in Davao del Sur and Davao Occidental. The loan signing was led by DASURECO General Manager Ferdinand D. Canastra and LANDBANK Davao del Sur Lending Center, Department Manager Arnel M. Caalim on March 15, 2021. They were joined by DASURECO Finance Services Manager Alejandra B. Rosario and LANDBANK Account Officer Christian Harvey N. Wong and Account Assistant Ralph Rhester Encabo. The LANDBANK Davao del Sur Lending Center facilitated the loan application of DASURECO amid strict community quarantine protocols implemented in the region. “LANDBANK recognizes the vital role of our electric cooperative partners in providing essential public service for socio-economic growth, especially in the countryside. We will continue to support their financial requirements toward advancing inclusive local recovery and development,” said LANDBANK President and CEO Cecilia C. Borromeo. DASURECO General Manager Ferdinand D. Canastra welcomed the approval of the loan that will support the financing of three (3) additional power substations and rehabilitation of subtransmission lines. DASURECO will also use the loan to fund a new three-storey office building located in Barangay Cogon, Digos City. “The loan will help us pursue projects that will ensure power efficiency and reliability in the provinces we serve. It will also be a big help for us to provide a safe and convenient office building for our employees and consumers visiting us,” said General Manager Canastra. As a public utility provider, DASURECO is a partner in the National Government’s Rural Electrification Program, particularly in the provinces of Davao del Sur and Davao Occidental. The cooperative services many small farmers and fishers and supports their capacity for post-production and storage. As of December 31, 2020, DASURECO has a total of 205,568 active connections being served by six substations. It is categorized as a Mega Large Electric Cooperative with a AAA rating—the highest classifications conferred to an electric cooperative by the National Electrification Administration (NEA). LANDBANK continues to offer loans in support of developmental projects for the delivery of basic services and necessary infrastructure facilities. Interested cooperatives may contact the nearest LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. Updates are regularly posted on the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and in Viber Community (@LANDBANK), or in the LANDBANK website (www.landbank.com).
READ MOREFor three years in a row, state-run Land Bank of the Philippines (LANDBANK) once again posted a 100% resolution rate for all concerns coursed through the Civil Service Commission’s (CSC) Contact Center ng Bayan (CCB) from January to December 2020, ranking first among the government agencies in the country. The CCB serves as the public feedback mechanism of the CSC, designed to ensure that actions on public feedback are in compliance with the number of days government agencies are required to respond under Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act signed in 2018. “This recognition from the CSC underscores LANDBANK’s steadfast commitment towards customer satisfaction. Rest assured that we will continue to prioritize and address client concerns as part of providing the highest standard of customer service to the sectors we serve,” said LANDBANK President and CEO Cecilia C. Borromeo. Aside from the CSC-CCB channel, LANDBANK clients may also send their comments or feedback to the Bank’s customer center hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000, or via email at customercare@mail.landbank.com. LANDBANK is also working on expanding its customer touchpoints through a website chatbot where clients can either chat with a live agent or choose self-service options. For more information about LANDBANK’s customer service channels, clients may follow the Bank’s official social media channels at @landbankofficial on Facebook and Instagram, @LBP_Official on Twitter, and @LANDBANK on Viber.
READ MOREThe Land Bank of the Philippines (LANDBANK) conveyed its steadfast commitment to provide responsive financing to farmers, fishers, and other players in the agribusiness value chain during the culmination of its Online Stakeholder’s Consultation Forum on April 22, 2021. LANDBANK President and CEO Cecilia C. Borromeo assured stakeholders of the Bank’s continued efforts in addressing emerging challenges and issues faced by clients in accessing agricultural credit amid the COVID-19 pandemic. “We welcome the issues raised and suggestions gathered from clients during the focus group discussions, and we commit to provide direct and time-bound solutions. Listening to the voice of the customer is high in our agenda as it helps us improve on the delivery of our products and services,” according to Borromeo. The Online Stakeholder’s Consultation Forum was conducted last March as a venue for knowledge sharing on concrete actions that will help LANDBANK improve the accessibility of its lending products and services, especially under the new normal. Online survey and focus group discussions were conducted to gain insights and suggestions from farmers and fishers, agri-input suppliers, aggregators and traders, processors, and wholesalers and exporters. The plenary session of the online forum was also attended by the LANDBANK Board of Directors and their alternates, namely Department of Agriculture (DA) Secretary William D. Dar, Department of Agrarian Reform (DAR) Undersecretary Luis Meinrado C. Pañgulayan, Department of Labor and Employment (DOLE) Undersecretary Benjo Santos M. Benavidez, Director Nancy D. Irlanda, Director Jesus V. Hinlo, Jr., Director Jaime L. Miralles, and Director Virgilio DV. Robes. Support to agriculture sector As of March 31, 2021, LANDBANK’s total loan portfolio to the agriculture sector grew by 4.8% to P229.70 billion from P219.24 billion last February. The increase is primarily attributed to a 9.5% rise in loans released to small, medium and large enterprises. This developed despite a recent report from the Bangko Sentral ng Pilipinas (BSP) that total outstanding loans of universal and commercial banks for production to agriculture, forestry, and fishing fell by 6.1% year-on-year in February. Of the P229.70 billion in total outstanding loans to the sector, P36.27 billion benefitted small farmers and fishers, cooperatives and farmers’ associations, rural financial institutions and other conduits. Small, medium, and large agribusiness enterprises were granted P143.11 billion, while P50.32 billion was channeled to support agri-aqua related projects of local government units (LGUs) as we as that of government-owned and controlled corporations (GOCCs). LANDBANK has assisted cumulatively 2,696,839 farmers and fishers nationwide as of end-March, recording increases of 14,147 beneficiaries from February and 25,990 for the first three months of the year. Just recently, LANDBANK announced it is doubling the available loan facility to support local hog producers and feed millers from P15 billion to P30 billion to finance stock repopulation and feed milling operations of stakeholders reeling from the adverse impact of the African Swine Fever (ASF). The funds will be available through the LANDBANK SWINE (Special Window and Interim Support to Nurture Hog Enterprises) Lending Program for commercial hog raisers registered as cooperatives or farmers’ associations, small and medium enterprises (SMEs), and large enterprises or corporations. This came following the directive from Department of Finance Secretary and LANDBANK Chairman Carlos Dominguez III for the state lender to double its support for hog raisers, feed millers, and other industry players dealing with supply shortfalls and retail price spirals of pork products. For more updates, please follow the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), and Twitter (@LBP_Official); join our Viber community (@LANDBANK); or visit the LANDBANK website (www.landbank.com).
READ MOREState-run Land Bank of the Philippines (LANDBANK) is ranked as one of the top 15 companies of the country—and the only government agency—to make it on LinkedIn’s list of best companies to grow one’s career. The global business and professional networking platform recently released its first-ever 2021 LinkedIn Top Companies list in the Philippines showing LANDBANK as among the best companies that “help employees build a professional foundation that sets them up for success both at the company and beyond.” LinkedIn based the list on seven key factors seen to lead to career progression, namely, (1) ability to advance, (2) skills growth, (3) company stability, (4) external opportunity, (5) company affinity, (6) gender diversity, and (7) educational background. “This recognition from LinkedIn affirms LANDBANK’s commitment to support our employees who are our most valuable asset. In LANDBANK, we endeavor to build a culture of service excellence where our employees flourish professionally, and deliver delightful service to our customers,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK said that the seven factors used for the LinkedIn ranking are consistent with the Bank’s efforts to invest in employee success, career development, and equity and inclusion, to ensure it maintains its reputation as an employer of choice. The Bank also prioritizes employees through the implementation of various policies centered on physical and mental wellness, as well as training and development programs. LANDBANK’s mission-vision is imbedded with its commitment to its employees to “develop and nurture talents who exemplify the highest standards of ethics, social responsibility and service excellence,” and “support diversity and cultivate a healthy work environment with equal opportunity for professional growth and advancement.” For more information about LANDBANK’s customer service channels, clients may follow the Bank’s official social media channels at @landbankofficial on Facebook and Instagram, @LBP_Official on Twitter, and @LANDBANK on Viber.
READ MOREClients can now successfully open a savings account with Land Bank of the Philippines (LANDBANK) using their mobile phone at their own safety and convenience without the need to go to a LANDBANK branch. The state-run Bank launched the Digital On-Boarding System Mobile or DOBS Mobile on May 12, 2021, which facilitates online savings account opening in as fast as 10 to 15 minutes without even having to visit any of its branches. Using the LANDBANK Mobile Banking App (MBA) available on Google Play Store or Apple App Store, interested clients need only to fill out application forms online and upload a valid identification card such as UMID, Passport, PRC ID, SSS, company ID or even school ID to open a digital LANDBANK ATM Savings Account. The LANDBANK DOBS Mobile eliminates the need to line up in branches to open an account, in support of the National Government’s Ease of Doing Business (EODB) initiative, as well as safety protocols amid the ongoing pandemic. “The DOBS Mobile underscores LANDBANK’s continued commitment to provide accessible, convenient, and safe digital solutions. Our digital banking initiatives remain centered on balancing service delivery while ensuring the health and safety of our clients which is of utmost priority,” said LANDBANK Branch Banking Sector Head, Executive Vice President Julio D. Climaco, Jr. The digital bank account opened using the LANDBANK DOBS Mobile offers features such as cardless withdrawal via the mobile app, and funds transfer and bills payment through both the MBA and the LANDBANK iAccess, among others. Clients can also upgrade the digital bank account to a regular LANDBANK Visa Debit Card by visiting their branch of account and requesting for a physical card anytime. LANDBANK as a trailblazer in digital banking Prior to the launch of the DOBS Mobile, LANDBANK introduced DOBS in December 2018 as the first online account opening portal among universal banks in the Philippines. This pioneering web application raked in various accolades for the Bank, such as the Merit Award for Technology Development by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Development Awards in 2020; “Asia’s Most Inclusive Bank” in the 2019 Financial Insights Innovation Awards; and the “Digital Trailblazer in Financial Services” award conferred by the Bangko Sentral ng Pilipinas (BSP). As of April 30, 2021, a total of 1.53 million accounts have already been opened through DOBS, which is accessible through LANDBANK’s official website (www.landbank.com) or through the Digital Corner of selected LANDBANK branches for walk-in clients. For more information about LANDBANK’s e-banking services, clients may follow the Bank’s official social media channels at @landbankofficial on Facebook and Instagram, @LBP_Official on Twitter, and @LANDBANK on Viber.
READ MOREThe Land Bank of the Philippines (LANDBANK) fully supports the ongoing Senate initiative to amend the provisions of Republic Act. No. 10000, otherwise known as the Agri-Agra Reform Credit of 2009 (Agri-Agra Law), which will provide farmers and fishers nationwide an expanded and easier access to responsive agricultural financing. During a public hearing on the proposed Agri-Agra Law amendments on May 12, 2021, the state-owned Bank also welcomed recommendations from legislators to revisit its loan application requirements, specifically for small farmers and fishers, to make it easier for them to access financing. In 2019, prior to the ongoing Agri-Agra law revisit, LANDBANK started simplifying its loan processes to make the Bank’s programs more accessible to small farmers and fishers. First, the loan application form was condensed from three (3) documents to just one (1) document, and was reformatted with mostly tick boxes for easier completion. Second, the Promissory Note was significantly trimmed from 14 pages to only 1 page. LANDBANK has also consistently complied with the Agri-Agra Law, which requires all banking institutions to allot 15% of their total lending portfolio for agriculture loans and 10% for agrarian reform credit. As of December 2020, LANDBANK’s agriculture loans reached 76.95% and 11.52% for agrarian reform. Overall, LANDBANK’s agriculture lending has been consistently growing from P222.05 billion in 2018, to P236.31 billion in 2019, and P237.62 billion in 2020. Likewise, as of March 31, 2021, LANDBANK’s total loan portfolio to the agriculture sector also grew by 4.8% to P229.70 billion from P219.24 billion last February. The increase is primarily attributed to a 9.5% rise in loans released to small, medium and large enterprises. Of the P229.70 billion total outstanding loans, P36.27 billion benefitted small farmers and fishers, cooperatives and farmers’ associations, rural financial institutions and other conduits. In partnership with the Department of Agriculture (DA) and Department of Agrarian Reform (DAR), LANDBANK has also assisted cumulatively 2,696,839 farmers and fishers nationwide as of end-March 2021. This represents increases of 14,147 beneficiaries from February, and 25,990 for the first three months of the year. Just last month, LANDBANK also culminated its Online Stakeholder’s Consultation Forum towards addressing emerging challenges and issues faced by clients in accessing agricultural credit amid the COVID-19 pandemic. The Forum facilitated knowledge sharing with key players in the agribusiness value chain to help the Bank further improve the accessibility of its lending products and services, especially under the new normal. Online survey and focus group discussions were conducted to gain insights and suggestions from farmers and fishers groups, agri-input suppliers, aggregators and traders, processors, and wholesalers and exporters. For more updates, please follow the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), and Twitter (@LBP_Official); join our Viber community (@LANDBANK); or visit the LANDBANK website (www.landbank.com).
READ MOREState-run Land Bank of the Philippines (LANDBANK) reports that a total of 2,481,788 unbanked Philippine Identification System (PhilSys) registrants have already signed up for LANDBANK transaction accounts as of April, 30 2021. This forms part of LANDBANK's partnership with the Philippine Statistics Authority (PSA) to co-locate during the PhilSys Step 2 registration and provide unbanked registrants with their own transaction accounts. Of the total 2,481,788 unbanked registrants, the Bank has already issued LANDBANK Agent Banking Cards (ABCs) to 850,875 of them—free-of-charge and without an initial deposit requirement—while the rest will receive their cards by July. Upon the invitation of National Economic and Development Authority (NEDA) Secretary Karl Kendrick T. Chua to co-locate with the PSA, LANDBANK aims to bank at least one household member of the estimated 18 million low-income households applying for the National ID and provide them access to basic banking services and emergency government subsidies. Previously, the PSA reported that 82% of the 10.52 million initial registrants do not have formal bank accounts. “LANDBANK is one with the National Government’s financial inclusion agenda. In partnership with the PSA, we are focused on opening accounts for up to eight million low-income, unbanked individuals from the 32 PhilSys priority provinces at the soonest time,” said LANDBANK President and CEO Cecilia C. Borromeo. Unbanked PhilSys registrants can avail of LANDBANK transaction accounts once they have completed the second step of the registration, which covers the validation of supporting documents and capturing of biometrics information. LANDBANK ABCs are given to unbanked PhilSys registrants free-of-charge and with no initial deposit requirement through LANDBANK account opening booths at designated co-location areas. Cardholders can use the LANDBANK ABCs to cash-in, cash-out, and transfer funds at any LANDBANK Branch or Agent Banking Partner. They can also withdraw cash at Mastercard-accepting ATMs, perform cashless transactions, shop online, as well as receive government subsidy digitally. Soon, the LANDBANK ABCs can also be used as contactless cards to pay fares in public transport modes under the Automatic Fare Collection System (AFCS) project of the Department of Transportation (DOTr). LANDBANK is tapping personnel from its eight Branches Groups nationwide, as well as accredited cooperatives, associations, small and medium enterprises (SMEs), and private entities as Agent Banking Partners, to assist in the account application and Know-Your-Customer (KYC) requirements at the registration sites. As of April 30, 2021, LANDBANK has co-located in 790 PhilSys Registration Centers in 10 regions, with additional centers in the pipeline as registrations continue to take place in 32 priority provinces nationwide. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
READ MOREThe Land Bank of the Philippines (LANDBANK) has approved loans totaling P20.07 billion as of April 30, 2021 to borrowers adversely affected by the ongoing COVID-19 pandemic, composed mostly of micro, small and medium enterprises (MSMEs) and cooperatives. Through the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) Lending Program, LANDBANK provided support to a total of 434 borrowers comprised of 292 MSMEs, 81 cooperatives, 56 large corporations, and five (5) microfinance institutions (MFIs). Of the total P20.07 billion approved loans, P18.21 billion has already been released. In April—or exactly a year after the program was launched in April 2020—the state-run Bank doubled the program fund of the I-RESCUE Lending Program to P20 billion from P10 billion to accommodate the increasing number of loan applications. The loan facility aims to provide credit and loan restructuring assistance to pandemic-besieged businesses under more flexible terms and conditions, and will be available until December 31, 2022. Under the LANDBANK I-RESCUE Lending Program, MSMEs, cooperatives, MFIs and large corporations may borrow up to 85% of their emergency or permanent working capital requirement. Terms are set at an affordable interest rate of 5% per annum for three (3) years, subject to annual re-pricing thereafter, and payable up to 10 years with a maximum of two (2) years grace period on the principal repayment. The Program also offers a sub-credit facility for MSMEs and cooperatives, as well as self-employed individuals duly registered with the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC), who are severely affected by the ongoing health crisis. Qualified borrowers may borrow a minimum amount of P100,000 or up to 85% of the actual permanent working capital requirement but not exceeding P3 million, at a lower fixed interest rate of 3% per annum no hard collateral and payable for up to three (3) years. Existing LANDBANK clients may also avail of loan restructuring under the Program via additional loan and extended repayment period to rehabilitate and restore their operational cash flow. Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
READ MOREBataan palay farmers Godofredo Magpoc (leftmost), Danilo Zulueta (upper right), and Roberto Morales (lower right) reap the benefits of financial assistance from the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) Program of Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA) for the production requirements of their rice fields. BATAAN – For the past 37 years, Godofredo Magpoc has provided for his family by growing different varieties of palay in his 2-hectare farm in Orion town. But with the recent decline in palay prices affecting his income, raising capital to sustain his livelihood has become a challenge. “Sa panahon ngayon, lubhang napakahirap para sa isang magsasaka ang mawalan ng puhunan. Kaya naman napipilitan humiram sa patubuan (informal lenders),” Magpoc said. In December 2019, Magpoc learned about the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) Program of the Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA). This credit facility aims to boost the productivity and income of small rice farmers, and cushion the initial impact of Republic Act No. 11203, also known as the Rice Tariffication Law (RTL). Under the ERCA-RCEF, individual farmers may borrow up to 90% of the total project cost—at a fixed interest rate of 2% per annum—for the purchase of farm inputs for rice and rice seed production, and acquisition of farm machineries and equipment for production and post-production. Magpoc successfully applied for a loan of P78,500.00 from LANDBANK, which he used to purchase farm inputs and hire additional farm workers. Since availing of the ERCA-RCEF Program, he has seen an increase in yield of about 30-40 cavans of rice every harvest season. He will be availing his fourth loan under the Program this May 2021. “In partnership with the Department of Agriculture, LANDBANK remains focused on delivering responsive financial services most especially to rice farmers and cooperatives. Through the ERCA-RCEF Program, we aim to increase their productivity and income through timely and accessible financial assistance,” said LANDBANK President and CEO Cecilia C. Borromeo. Like Magpoc, palay farmer Danilo Zulueta from the Municipality of Pilar, also enjoyed the benefits of the ERCA-RCEF Program. A farmer for the past 20 years, he was granted a loan of P61,500.00 last December 2020 to support his 1.5-hectare rice field, which he used for land preparation, and to buy fertilizers and pesticides. “Malaki ang naitulong ng pautang ng LANDBANK at DA. Dahil sa sapat na puhunan, nakapagpatanim ako ng naaayon sa bilang ng araw ng punla at nakapagsabog ng abono (fertilizer) sa tamang panahon. Dahil dito, naniniwala akong magkakaroon ako ng masaganang ani at siyempre, magkakaroon ng karagdagang kita,” said Zulueta. For Roberto Morales, another palay farmer from Balanga City, the ERCA-RCEF Program is the best alternative from informal lenders who charge higher interest rates. Under the Program, LANDBANK granted him a loan of P82,000.00 in December 2019 which he used as additional capital to purchase fertilizers and pesticides. “Malaki ang naitulong ng perang nahiram ko mula sa LANDBANK. Tumaas ang aking kita dahil 2% per annum lang ang interest rate ng ERCA-RCEF kumpara sa iba na may mataas na interes,” said Morales. Continuing support for palay farmers Under the ERCA-RCEF Program, LANDBANK has cumulatively released P1.03 billion in loans to 6,214 eligible borrowers composed of palay farmers and cooperatives as of April 30, 2021. Most of the farmer-beneficiaries were from Region 2—particularly the rice-producing provinces of Cagayan, Nueva Vizcaya and Quirino—where LANDBANK assisted a total of 3,129 rice farmers and 19 cooperatives. DA-accredited cooperatives may also borrow under the ERCA-RCEF Program for the purchase of farm inputs for rice and rice seed production as a collective operation, working capital for rice and rice seed trading, and other rice farming-related activities such as the acquisition of machineries and equipment, as well as relending and rediscounting of existing loans of small rice farmers listed in the Registry System for Basic Sectors in Agriculture (RSBSA). For on-lending, the interest rate is at 0% per annum with prescribed pass-on rate to end-borrowers of up to 6% per annum. As mandated by Republic Act No. 11203, LANDBANK shall continue to administer the ERCA-RCEF Program for DA until 2024, and make available P500 million in loans annually to rice farmers registered to the RSBSA in 38 rice-producing provinces. For more information about LANDBANK’s Lending Programs, interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
READ MOREAs of Fri, May 2, 2025
| Buying | Selling | |
|---|---|---|
| USD | 55.4 | 55.9 |
| JPY | 0.376062 | 0.390629 |
| EUR | 61.664004 | 64.057767 |
| GBP | 72.538526 | 75.35443 |
| HKD | 7.116675 | 7.647847 |
As of Wed, April 30, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.558326 |
| Money Market Fund | 1.311473 |
| Money Market Plus Fund | 1.223865 |
| PERA Money Market Fund | 1.024157 |
| Medium-Term Bond Fund | 2.473735 |
| Bond Fund | 2.028301 |
| PERA Bond Fund | 1.202455 |
| Balanced Fund | 2.625609 |
| Growth Fund | 2.598945 |
| Alpha Equity Fund | 3.025756 |
| Blue Chip Equity Fund | 0.970814 |
| Equity Fund | 0.790417 |
| High Dividend Equity Fund | 1.009225 |
| US$ Money Market Fund | 1.432555 |
| Global $ Fund | 1.531474 |
